Huobi report, crypto capitalization grows 9.13% in a week
Huobi report, crypto capitalization grows 9.13% in a week
Crypto

Huobi report, crypto capitalization grows 9.13% in a week

By Vincenzo Cacioppoli - 19 Oct 2021

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A report from Asian exchange Huobi analyzed the results of the last week in the crypto world, explaining that there was a 9.13% increase in cryptocurrency capitalization

The $2 trillion barrier of the total value was breached once again.

Falling volumes

However, according to Huobi, Daily trading volume in the second week of October fell by 16.25% compared to the previous week. 

40 of the top 100 cryptocurrencies increased their daily volume, led by Nu, which recorded an increase of 2043.28%. 

In contrast, other cryptocurrencies decreased their daily transaction volume, with 10 of them seeing their volume decrease by more than 50%. MIOTA experienced a 74% decrease

Crypto market capitalization dominated by BTC

The top ten cryptocurrencies now account for around 81% of total market capitalization, up 1.27% from the previous week. Bitcoin’s capitalization alone accounts for 46.34% while Ethereum covers 18.13%.

The average capitalization of the top 100 cryptocurrencies is $27 billion, an increase of 5%.

Hashrate of Bitcoin and Ethereum has increased

Mining data in the Huobi report

As far as mining is concerned, the Huobi report shows how the hashrate (unit of measurement of network processing power) of Bitcoin and Ethereum has increased. 

From 11 October 2021 to 17 October 2021, the average bitcoin hashrate for the entire network reached 146.4 EH/s, up 0.83% from the previous week.

The average hashrate for the entire Ethereum network was 746.61TH/s this week, up 1.44%.

In the past week, Bitcoin mined 1019 blocks, up 1.19% from the previous week. In the same period, Ethereum’s entire network mined 47166 blocks, up 3.85% from the previous week.

In terms of the size of individual blocks mined, the size of Bitcoin increased by an average of 0.83%, while the size of Ethereum decreased by 12.3%.

The number of unconfirmed Bitcoin transactions decreased by 39.88%, while the number of unconfirmed Ethereum transactions increased by 0.72%. 

As for Bitcoin’s average transaction fees, they were $3,564 this week, up 9.06% from last week. Ethereum’s were $28,706, up 18.28% from the previous week.

Tron is the queen of social media

Statistically speaking, Tron has seen record growth in fans on social media sites like Facebook, with 94,000 more followers. Leading this particular ranking after Bitcoin with 3.4 million followers is XRP with 2.1 and Ethereum with 1.6 million fans.

Funding in progress

Leading the way in funding this week is Celsius with $298 million which has taken the company’s value to $3 billion.

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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